You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.
Back to Search
Property profile & analytics
OFF-MARKET Estimated value $630,000
Drive through restaurants

1487 Boardwalk Lexington, KY 40511-1803

2,215 SF 0.64 ac lot Built 1977
Entity Owned 5-yr Hold ~ Est. High Equity
Property ID
US34-0595401
Property summary
AI-generated overview

This exceptional 0.64-acre property in Lexington, Kentucky, presents a prime ground lease opportunity. Located at 1487 Boardwalk, in Fayette County (zip code 40511), this site boasts a 2,215 square foot building, ideal for repurposing or demolition. Its strategic location just off W New Circle Rd provides unparalleled visibility and accessibility, situated adjacent to a Walmart Supercenter and Lexmark's World Headquarters. The property benefits from high daily traffic volume generated by nearby retail giants like Ross and Walmart, as well as numerous surrounding office buildings. The B6P zoning allows for a wide range of uses, including a drive-thru restaurant, making it an attractive option for various businesses. The site's existing infrastructure, combined with its prime location within a thriving retail corridor, presents a unique opportunity for significant return on investment. This location is surrounded by established QSRs including Wendy's, Taco Tico, KFC, Arby's, Panda Express, and Dairy Queen, demonstrating the area's strong demand for quick-service restaurants. The property's single-tenant configuration offers flexibility and control. This is a rare chance to acquire a highly visible and accessible site in one of Lexington's busiest retail areas.

Property profile
Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1977
Total area 2,215 SF
Lot 0.64 ac (27,878 SF)
Zoning code B-6P
APN 16696759
UPID US34-0595401
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$772k
Blend (final) Blend
$630k
Owner & transaction history
K2 Prop LLC · 5 yrs held
K2 Prop LLC
since 2020
Last sale
$570,000
1 recorded transaction
2020
$570,000
Zoning & alternative use
B-6P · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Article 12 - COMMERCIAL CENTER (B-6P) ZONE Share Download Bookmark Print Sec. 12-1. - Intent. The intent of the Commercial Center (B-6P) zone is to create centers of activity that promote commerce and retail along major corridors within the community, while supporting existing residential neighborhoods and incorporating new residential opportunities in accor…

Zone name Commercial Center
General category COMMERCIAL
Zone area 1,144.00 ac
Top alternative use upside
Auto repair, garage $810,000 +12.0%
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1487 Boardwalk?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message